NSDL e-Governance Infrastructure, which launched the country's first online will-making platform Ezeewill in collaboration with Warmond Trustees & Executors two years ago, is expanding services to offer personalised wills, executorships, trust services and estate planning.
Warmond had roped-in NSDL in August 2014 to float the online will-making platform Ezeewill.
With this expansion, Warmond will now offer high end estate planning solutions, like personalised will, corporate executorship, and help set up private trusts, including acting as trustees for wealthy families, the companies said.
NSDL e-Governance Managing Director and Chief Executive Gagan Rai said, "We've been getting lot of requests from households to do something in the area of succession planning; hence, this initiative. Why we? Because the investors trust NSDL for custody of their securities, which may be a major portion of their wealth."
Under the online will offering, Ezeewill helps a person to prepare a will. Once the client provides the requisite details online, a draft is made, discussed with the client and the will is delivered to them.
On launching personalised wills, Rai said this is aimed at offering to those clients who believe their situation is unique and requires personal interactions and discussions. Under this, the client will have the choice of discussing his specific needs with an Ezeewill expert.
Under executorship offering, Warmond will provide comprehensive solutions on all estate planning needs.
As a corporate executor, Warmond brings to the table continuity and expertise for clients and their families in executing their wills. It will take care things like getting probate certificate, distributing assets to the beneficiaries, providing legal assistance, payment of debt etc, Rai said.
Warmond Managing Director and Chief Executive Anuradha Shah said there is a huge latent demand for succession planning offering and with these it can also help high networth families to form trusts and act as a corporate trustee, under its estate planning offerings.
With increasing number of wealthy families, the demand for succession planning has seen a surge of late, said Warmond Managing Director Amit Pathak.
Warmond recently acquired Julius Baer Trustees India, earlier known as DSP Merrill Lynch Trust Services, making it the first acquisition of a multinational firm in trusteeship and estate planning in the country by a domestic firm.
NSDL e-Governance has been engaged in designing, managing and implementing e-governance projects since its launch in 1995 and also set up the country's first depository which today has custody value of over Rs. 1.24 trillion.
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